Foreclosure Analyst

Overview

Title: Foreclosure Analyst

Pay: $24.00 to $33.25/hr.

Position Summary

The Foreclosure Analyst reports to the Manager of Foreclosure. The primary role of the Analyst is to monitor residential mortgage loans in the foreclosure process to minimize potential losses and preserve the lien-holder's interests. Conducts all activities in adherence to all applicable investor timelines. Performs all duties in accordance with company guidelines and applicable federal, state and local regulations. The Analyst will manage loan portfolios through the current foreclosure process and work with attorney firms to make sure all deadlines are met. They will be able to properly coordinate all work assignments and timelines on multiple projects, by managing time constraints and prioritizing accordingly. The analyst will be responsible for developing working relationships with Foreclosure Counsel and firms.

Responsibilities

Duties and Responsibilities:

• Audits and reviews Foreclosure for timeline adherence across all states.
• Processes loans in Foreclosure from Referral to FC Sale.
• Perform business unit testing to ensure all FC files are QC'd and updated accurately.
• Reviews payment histories and reconciles loans.
• Monitors and Maintains accurate records within the servicing system while the asset is in the foreclosure process.
• Coordinates with attorney firms to maintain and execute applicable documents within the foreclosure process.
• Researches borrower’s disputes related to foreclosure proceedings.
• Evaluates account and filing characteristics against legal precedents in order to identify/alleviate potential losses either monetary, or timeline in nature.
• Processes foreclosure referrals timely to the firm and ensures First Legal is met in accordance with investor guidelines.
• Provides accurate and timely bidding instructions to the firm.
• Reviews files to ensure dual tracking guidelines are adhered.
• Provides payment instructions to the Cash Department for funds received directly from borrowers to ensure proper application towards appropriate balances as outlined in the foreclosure case and in accordance with investor/insurer guidelines.
• Leverages of a wide range of legal and foreclosure knowledge, to augment the legal support services provided by internal/external counsel.
• Resolves complex issues involving payment disputes, escrow discrepancies/changes, ARM changes, inaccurate mortgage assignments.
• Identifies and mediates any potential loan origination/documentation issues that could expose the bank or investors/insurers to financial losses.
• Audits accounts for errors or inaccuracies and corrects/updates accounts while documenting account accordingly.
• Effectively communicates critical information directly to bank customers, opposing counsel and supporting counsel by conveying that information clearly, accurately, honestly and concisely in accordance with bank, department and investor policies and procedures.
• Adheres to Investor Servicing requirements regarding the proper coding of accounts; notification of property conditions, and monthly delinquency reporting to reduce fines by investors for non-compliance driving positive investor/insurer reportable metrics.
• Develops areas of expertise and company knowledge to improve customer service that will meet department, bank and investor objectives.
• Efficiently manages a task-based workload task management and attorney follow-up that improves the financial performance of the foreclosure portfolio and reduces credit losses to the bank and investors.
• Responsible for monitoring and processing annual and quarterly foreclosure reporting per state and federal guidelines.
• Initiates the relief process to prevent the continued depreciation of 5/3 and investor/insurer, in accordance with investor/insurer guidelines.
• Maintains records, reports and files.
• Comply with all state and federal laws, regulations and investor and insurer guidelines.
• Responsible for keeping abreast of relevant changes to investor/insurer guidelines, industry standards and client expectations. Must keep up-to-date on all FHA, VA, USDA, PMI and FNMA/FHLMC servicing requirements and revisions.
• Attends court hearings and mediation conferences related to foreclosure proceedings.
  
  

Qualifications

Desired Competencies:

• Has knowledge of all Default Servicing processes up to and including Loss Mitigation, Foreclosure, Conveyance and Claims in addition to mortgage servicing state, federal and agency guidelines and timelines;
• In depth knowledge of MSP, with at least (2) years recent experience working with MSP;
• 2-3 years banking operations or foreclosure legal experience
• Demonstrates a functional knowledge of federal foreclosure law, as well as specific state and local jurisdiction foreclosure requirements.
• Functional knowledge of mortgage servicing restrictions and guidelines
• Functional knowledge and mastery of foreclosure terminology.
• Functional knowledge of RESPA/Investor/Insurer/CFPB/FCRA guidelines and regulations
• Working knowledge of Federal foreclosure code and laws
• Strong analytical skills and decisive decision-making skills
• Ability to interact at a professional level with customers and attorneys
• Must be detail oriented and have excellent time management and organizational skills;
• Ability to meet time constraint deadlines while working under pressure;
• Handles simultaneous tasks and projects in a fast-paced environment;
• Able to work independently and in a team environment;
• Good business writing and business math skills;
• Excellent verbal and written communication skills;
• Strong PC skills. Must be proficient in MS Windows, MS Outlook, MS Office Suite, MS Visio and MS SharePoint.
  
  

Core Competencies

To perform the job successfully, an individual should demonstrate the following competencies:

• Problem Solving - Identifies and resolves problems in a timely manner; Gathers and analyzes information skillfully; Develops alternative solutions; Works well in group problem solving situations; Uses reason even when dealing with emotional topics.
• Interpersonal - Maintains confidentiality; Keeps emotions under control.
• Oral Communication - Speaks clearly and persuasively in positive or negative situations; listens and gets clarification; Responds well to questions; Participates in meetings.
• Team Work - Balances team and individual responsibilities; Exhibits objectivity and openness to others' views; Gives and welcomes feedback; Contributes to building a positive team spirit; Puts success of team above own interests; Able to build morale and group commitments to goals and objectives; Supports everyone's efforts to succeed; Recognizes accomplishments of other team members.
• Written Communication - Writes clearly and informatively; Edits work for spelling and grammar; Presents numerical data effectively; Able to read and interpret written information.
• Quality Management - Looks for ways to improve and promote quality; Demonstrates accuracy and thoroughness.
• Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Aligns work with strategic goals.
• Diversity - Shows respect and sensitivity for cultural differences; promotes a harassment-free environment.
• Ethics - Treats people with respect; Keeps commitments; inspires the trust of others; Works with integrity and ethically; Upholds organizational values.
• Organizational Support - Follows policies and procedures; Completes administrative tasks correctly and on time; supports organization's goals and values.
• Strategic Thinking - Develops strategies to achieve organizational goals; Understands organization's strengths & weaknesses; Adapts strategy to changing conditions.
• Adaptability - Adapts to changes in the work environment; Manages competing demands; Changes approach or method to best fit the situation; Able to deal with frequent change, delays, or unexpected events.
• Attendance/Punctuality - Is consistently at work and on time; Ensures work responsibilities are covered when absent; Arrives at meetings and appointments on time.
• Dependability - Follows instructions, responds to management direction; Takes responsibility for own actions; Keeps commitments; Commits to long hours of work when necessary to reach goals; Completes tasks on time or notifies appropriate person with an alternate plan.
• Initiative - Asks for and offers help when needed.
• Judgment - Displays willingness to make decisions; Exhibits sound and accurate judgment; Supports and explains reasoning for decisions; Includes appropriate people in decision-making process; Makes timely decisions.
• Planning/Organizing - Prioritizes and plans work activities; Uses time efficiently.
• Professionalism - Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions; Follows through on commitments.
• Quantity - Meets productivity standards; Completes work in timely manner; Strives to increase productivity; Works quickly.
• Safety and Security - Observes safety and security procedures; Reports potentially unsafe conditions; Uses equipment and materials properly.
  
  

Desired Education/Experience

• Bachelor's Degree in Finance, Accounting or Business Administration preferred. Will consider a combination of equivalent experience and education;
• 2-3 years banking operations or foreclosure legal experience
• Overall, 3+ years Mortgage Servicing or other relevant financial services industry experience.